 |
Photo = Yonhap news |
[Alpha Biz= Paul Lee] On March 4, NXT, Korea's first alternative trading platform, conducted its first trades, breaking the monopoly of the Korea Exchange (KRX). Ten selected stocks, including Lotte Shopping, from the KOSPI and KOSDAQ markets, were traded. The NXT trading hours are from 8 AM to 8 PM.
Although the home trading systems (HTS) and mobile trading systems (MTS) of each securities company did not change significantly on the first day, a new feature called "Smart Order Routing (SOR)" stood out. This feature automatically places the best orders when traders have not decided whether to trade on KRX or NXT.
As it was the first day, the number of trades in NXT's regular and aftermarkets was relatively low. The trading volume for the 10 stocks in the regular market was 213,983 shares, while the after-market saw 220,758 shares traded. YG Entertainment had the highest trading value, followed by Kolon Industries and S-Oil.
There was almost no price difference between KRX and NXT in the regular market. The price movements of the same stocks on both exchanges differed only by a few decimal points. Some feedback indicated that the integration of both exchanges' price quotes and profit rates displayed by securities firms' unified order books was somewhat complex.
Starting from March 17, NXT plans to expand its trading to 110 stocks, followed by 350 stocks on the 24th, and 800 stocks on March 31.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
